In one category, color cosmetics, research firm TABS Analytics has found that millennial women in the United States are by far the heaviest buyers, with 32% of women aged 18 to 24 and 26% of women aged 25 to 34 purchasing 10 or more types of color cosmetics per year, compared with 20% of women overall.
LONDON--(BUSINESS WIRE)--The global hair care market size is poised to grow by USD 4.93 billion during 2020-2024, progressing at a CAGR of over 1% throughout the forecast period, according to the latest report by Technavio.
The revenue of the U.S. cosmetic industry is estimated to amount to about 49.2 billion U.S. dollars in 2019. Since the early twentieth century, the production of cosmetics has been controlled by a handful of multi-national corporations.
The global cosmetics industry is broken down into six main categories; skin care being the largest one out of them all, accounting for 36.4 percent of the global market in 2016.
Annual growth of the global cosmetics market from 2004 to 2020.
| Characteristic | Annual growth rate* |
|---|
| 2019 | 5.25% |
| 2018 | 5.5% |
| 2017 | 4.9% |
| 2016 | 4% |
Category:Cosmetics companies
| Rank | Company | Headquarters |
|---|
| 1 | Procter and Gamble | Cincinnati, USA |
| 2 | L'Oreal | Paris, France |
| 3 | Unilever | London, UK |
| 4 | Natura | Sao Paulo, Brazil |
Global Clean beauty market in terms of revenue was estimated to be USD 5439.6 Million in 2020 and is expected to reach USD 11558.5 Million in 2027, Growing at a CAGR of 12.07% from 2020 to 2027. Clean beauty means that a product is safe, non-toxic, and has transparent labeling of ingredients.
According to a recent report from Allied Market Research, the global cosmetics industry generated $380.2 billion in 2019, and is expected to reach $463.5 billion by 2027, witnessing a CAGR of 5.3% from 2021 to 2027.
The Anti-aging Market is valued at approximately USD 44,124 million in 2020 and is expected to witness a revenue of USD 64,043 million in 2026, with a CAGR of 6.1% over the forecast period.
The global beauty industry is worth $511 billion.The rapid increase of the cosmetic industry's worth is no surprise, as the demand for beauty and personal care products will always be high.
Millennials are often quoted as being the main drivers behind the meteoric growth of the beauty segment. There have been many articles written on this trend, citing everything from the aging of the millennial demographic to a focus on “self-care” as a coping method against a difficult political and economic climate.
1. The global beauty industry is worth $511 billion.
The Australian beauty and personal care products market was valued at USD 3.73 billion in 2020, and it is projected to register a CAGR of 3.87% during the forecast period (2021-2026).
The global nail polish market is expected to grow at a compound annual growth rate of 9.5% from 2016 to 2024 to reach USD 15.55 billion by 2024.
| Report Attribute | Details |
|---|
| Market size value in 2020 | USD 10.77 billion |
| Revenue forecast in 2024 | USD 15.55 billion |
| Growth Rate | CAGR of 9.5% from 2016 to 2024 |
The results show that younger people use makeup and foundation more often than the older generation, with 39 percent of 18 to 29 year olds using them every day, compared to 20 percent of those aged 60 and over. Around 31 percent of women aged 60 and over said they never use the products.
Hence, from a generic point of view, a typical cosmetics business dealing in make-up items and other skincare products will primarily have women, aged 18 and above as its target market.
The Beauty industry covers a wide variety of personal products (skin care; color cosmetics; hair care; fragrances), beauty appliances (hair dryers; brushes; combs), services (salons; day spas) and related functions (packaging; supply chain). Not all segments of the beauty industry will be represented on this guide.
